Starburst Accelerator
Technology Focus Areas (Top 3): Aerospace; Autonomy; Communications; Energy
Series: Seed, Series A
Location: El Segundo, CA
Starburst Accelerator: Complete History and Operations
From Accelerator to Venture Powerhouse
Starburst Aerospace started in 2012 as something pretty unique – the world's first global aerospace accelerator. What began as an accelerator program has evolved into a major venture investor with serious funding muscle behind it.
The big turning point came in late 2016 when Starburst raised a $200 million debut venture fund in partnership with Singapore's Leonie Hill Capital. This wasn't just any fund – it was designed to invest in roughly 35 companies over three years, typically writing Series A checks of $3-5 million with reserves for follow-ons.
In 2022, they launched their first formal U.S. early-stage fund under the name Starburst Ventures, marking a shift toward supporting companies at even earlier stages. While they didn't disclose the total size, this fund focuses on pre-seed through Series A rounds with investments up to $1 million per startup, typically in the mid-six figures range.
As of 2023, Starburst manages at least two venture funds – the seed-focused Starburst Ventures fund and an Expansion fund for later-stage deals – representing several hundred million dollars in capital for aerospace innovation. Their typical check sizes now range from $200K to $1M for young aerospace, defense, and deep-tech companies.
The Leadership Dynamic Duo
François Chopard – Founder & CEO François founded Starburst in 2012, bringing over 20 years of aerospace industry experience. His background is impressive: he worked as an Airbus engineer, served in the U.S. Air Force Research Lab, and was a partner at consulting firms including Oliver Wyman in Paris.
Under his leadership, Starburst became the world's first global aerospace accelerator, expanding from Paris to Los Angeles and beyond. Chopard has been instrumental in connecting startups with capital and corporate partners, essentially "pioneering today's aerospace renaissance."
He serves as General Partner of Starburst Ventures and is a renowned speaker at major industry forums, including the World Economic Forum in Davos. His vision and network have been key to Starburst's role as an "innovation catalyst" in aerospace and defense.
Vandad "Van" Espahbodi – Co-Founder & Managing Partner Van co-founded Starburst and spearheaded its U.S. expansion. In 2015, he launched Starburst's first U.S. office in Los Angeles, which has since become the company's flagship location and largest base of operations.
With 16+ years of aerospace experience in both government and commercial sectors, Van started as a congressional aide in Washington, then held strategy roles at Raytheon and NATS (the UK's air traffic control service). This gives him deep insight into defense and aviation policy.
Known as an "entrepreneurial futurist," Van has been crucial in building Starburst's U.S. ecosystem and corporate partnerships. He helped grow the company to six global offices by 2020, noting that El Segundo, California is "the epicenter of aerospace engineering talent" in Southern California.
Van is also a thought leader in the space, authoring pieces for TechCrunch and Medium on aerospace and defense innovation. He serves on the Economic Development Advisory Council for El Segundo and the advisory board of the MIT Enterprise Forum.
The Extended Team Supporting the founders is a growing team of industry experts, including Sandra Budimir (co-founder based in Paris) who serves as Managing Director, and Elizabeth Reynolds, who was named Managing Director of Starburst USA by 2023.
The venture fund has added notable advisors like Jacqueline Tame (former DoD Joint AI Center deputy director) and Natalya Bailey (space entrepreneur, Accion Systems founder) to mentor portfolio companies. The strong leadership bench has helped Starburst scale to about 60 team members across 8 offices globally.
Making Waves in Media and Industry
Despite being relatively young, Starburst has built a significant media presence in the aerospace and startup community.
Press Coverage Starburst's activities regularly make headlines in major tech and trade publications. TechCrunch broke the news of their $200M fund in 2016, and dot.LA profiled their new space startup fund launch in 2022. The Los Angeles Business Journal has spotlighted their role in Southern California's aerospace boom.
Aerospace trade outlets also cover them extensively – Aviation International News ran features during the 2023 Paris Air Show detailing Starburst's growth and the $1B+ raised by their portfolio companies.
Conference Circuit Starburst executives are frequent speakers at industry conferences and government forums. François is a sought-after speaker who has appeared at the World Economic Forum and World Aviation Festival, sharing expertise on the future of flight and urban air mobility.
Van has moderated panel discussions on emerging tech for national security, including a 2018 Aerospace Corporation forum on AI and defense that Starburst co-hosted with participants from In-Q-Tel, AWS, and the DoD community.
Starburst also organizes its own demo days and "Shark Tank" style pitch events at venues like the Paris Air Show and Seattle's Museum of Flight, often drawing executives from Boeing, Lockheed Martin, NASA, and the U.S. Air Force.
Thought Leadership Beyond news coverage, Starburst contributes valuable content to the aerospace innovation dialogue. Van has written for TechCrunch (where his author page describes him as "championing today's aerospace renaissance") and authored a notable 2021 Medium essay titled "The Power of Building Hard Things."
The company's website hosts regular press releases and articles on industry initiatives, and their leaders appear in online panel discussions from organizations like the Milken Institute.
Portfolio Success Stories
Since inception, Starburst has supported well over 100 startups, and the results speak to their significant impact on the ecosystem.
The Numbers That Matter By late 2022, the top ten startups from Starburst's flagship accelerator program had collectively raised over $1 billion in funding. These included companies spanning new space, advanced aviation, and defense tech.
According to Starburst, startups in their programs are four times more likely to raise their next round of funding than the market average – an impressive uplift attributed to intensive mentorship and strategic connections.
Notable Alumni Success Stories
Major Players Several Starburst alumni have become household names in aerospace:
Momentus (space tug services)
ZeroAvia (hydrogen-electric propulsion)
Red 6 (AR combat pilot training)
WhiteFox (drone airspace security)
Ampaire (hybrid-electric aircraft)
Morpheus Space (satellite propulsion)
Orbital Sidekick (satellite surveillance)
Acquisition Success Launcher, a California-based small rocket company, was acquired by Vast (a private space station venture) in 2023, demonstrating the exit potential for Starburst alumni.
Early Breakouts Earlier cohorts produced successes like AirMap (drone traffic management platform) and Ursa Space (satellite intelligence), which were highlighted as breakout companies. Natilus has been developing large autonomous cargo drones and gained industry attention as a potential disruptor in air freight.
Recent Investment Activity Starburst's venture fund has stayed active with recent investments like:
Outpost (reusable satellite & earth-return capsule company) – $7.1 million seed round in 2022
Strong Compute (AI/ML acceleration software startup) – $7.8 million seed round
The Starburst Value Proposition
What makes Starburst special goes beyond just writing checks – their model provides critical support that founders consistently credit with boosting their success.
The Network Effect Starburst's network of 60+ corporate and government partners – including NASA, U.S. Space Force, Boeing, Airbus, Lockheed Martin, Northrop Grumman, and more – gives startups unparalleled access to potential customers and acquirers. This helps young companies land pilot projects and win their first contracts, which is crucial in aerospace.
Accelerator Program Their year-long accelerator program focuses on business development, mentorship, and investor introductions specifically for the A&D sector. Startups receive coaching from industry veterans and get to pitch at high-profile demo days attended by aerospace primes, government agencies, and venture investors.
Strategic Partnerships Starburst has played a key role in fostering partnerships in Southern California's "Aerospace Valley." As El Segundo's city manager noted, thanks partly to Starburst, major contractors are "starting to partner with startup companies more frequently" in search of innovation.
Founder Testimonials The impact shows up in what founders say. One testimonial noted that "no aerospace startup... wouldn't benefit tremendously from [Starburst's] support and unique network within the DoD and industry."
Founders of Outpost praised Starburst Ventures as "by far the fastest [investor] to add tangible value... diving in as a real team member to help unlock new opportunities."
The Bigger Picture Impact
Starburst's influence extends beyond individual company success to the broader aerospace ecosystem transformation.
Regional Impact In Los Angeles, Starburst-advised companies like Slingshot Aerospace (AI for geospatial intelligence) and Phase Four (satellite propulsion) quickly attracted millions in venture funding and government contracts. By 2020, many companies Starburst had worked with were bringing in "millions of dollars in seed funding and early series raises."
Industry Transformation Starburst has helped catalyze what Van Espahbodi calls an "industrial renaissance" in aerospace, where a new generation of startups collectively rival the incumbents in valuation and innovation. Their Los Angeles accelerator alone graduated 20 startups, and overall Starburst claims to have helped develop 120+ companies worldwide since 2015.
U.S. Focus While Starburst operates globally, their U.S. portfolio has been especially vibrant, aligning with the country's large aerospace market. Many portfolio companies are U.S.-based or have significant U.S. operations, and several have achieved major contracts with government agencies.
Looking Forward
Starburst's evolution from a niche aerospace incubator into a multifaceted global organization represents something significant in the venture world. They've built a unique model that combines accelerator programs, corporate advisory services, and venture funds to create a comprehensive ecosystem for aerospace innovation.
Their funding history – from a $200 million Series A-oriented fund to newer seed funds – shows they can adapt to market needs while maintaining their core mission. With investments typically ranging from $200K to multi-million dollar checks depending on stage, they've proven they can support companies throughout their growth journey.
The leadership team of Chopard and Espahbodi has successfully bridged European and U.S. aerospace networks, while their media presence and industry engagement has positioned them as key voices in shaping the future of aerospace and defense innovation.
Most importantly, their portfolio companies' success stories – from early funding raises to major acquisitions – demonstrate that Starburst's extensive network and guidance can make the difference between a promising startup and a market-changing success. By focusing on the U.S. market while leveraging global reach, they've helped catalyze a new era where aerospace startups can compete with and sometimes surpass traditional industry giants.
